This important volume presents the key articles which illuminate the history and development of international investment during the past 100 years. The final section takes a comparative perspective and pays attention to Japanese foreign investment and to direct investment from less developed countries.

Contents: Introduction Part I: Historical Aspects 1. John H. Dunning (1983), 'Changes in the level and structure of international production: the last one hundred years reset from Mark Casson' 2. M. Edelstein (1982), 'Overseas Investment during the Pax Britannica: Size, Timing and Character' 3. Mira Wilkins (1974), 'The Role of Private Business in the International Diffusion of Technology' Part II: The Theory of International Capital Movements 4. A.E. Jasay (1960), 'The Social Choice Between Home and Overseas Investment' 5. G.D.A. MacDougall (1960), 'The Benefits and Costs of Private Investment from Abraod: A Theoretical Approach' 6. Murray C. Kemp (1962), 'The Benefits and Costs of Private Investment from Abroad: Comment' 7. Peter Svedberg (1982), 'The Profitability of UK Foreign Direct Investment under Colonialism' Part III: Portfolio International Investment 8. Bruno Solnik (1974), 'An Equilibrium Model of the International Capital Market' 9. I. Friend and E. Losq (1979), 'Advantages and Limitations of International Portfolio Diversification' Part IV: Direct Foreign Investment 10. Thomas O. Horst (1971), 'The Theory of the Multinational Firm: Optimal Behavior under Different Tariff and Tax Rates' 11. Michael Adler and Guy V.G. Stevens (1974), 'The Trade Effects of Direct Investment' 12. Bernhard M. Wolf (1977), 'Industrial Diversification and Internationalization: Some Empirical Evidence' 13. Raymond Vernon (1979), 'The Product Cycle Hypothesis in a New International Environment' 14. Mark Casson (1982), 'The Theory of Foreign Direct Investment' 15. Peter J. Buckley and Mark Casson (1981), 'The Optimal Timing of A Foreign Direct Investment' 16. Ignatius J. Horstmann and James R. Markusen (1989), 'Firm Specific Assets and the Gains from Direct Foreign Investment' Part V: Comparative International Investment 17. Ken'ichi Yasumuro (1984), 'The Contribution of Sogo Shosha to the Multinationalization of Japanese Industrial Enterprises in Historical Perspective' 18. K. Kojma (1982), 'Macroeconomic versus International Business Approach to Direct Foreign Investment' 19. Peter J. Buckley (1983), 'Macroeconomic versus International Business Approach to Direct Foreign Investment: A Comment on Professor Kojima's Interpretation' 20. D. Lecraw (1977), 'Direct Investment by Firms from Less Developed Countries'